Daily E-way bill generation for goods transportation under the Goods and Services Tax (GST) system came in at 20.97 lakh in the first five days of September. This is 7.5% higher than the daily average for the first Eight days of August. Thus, we can see the indications of continued momentum in Economic recovery. In this article, we will read about the Daily Generation of e-way bills rise in early September.
What is the E-Way Bill?
E-waybill refers to the Electronic Way bill. It is an Electronic document generated on the GST portal permitting the movement of goods.
In other words, an E-Way bill is like a receipt and it contains information regarding the shipment of a consignment and other details including the name of the consignor (Sender of goods), the consignee (Receiver), the place of origin, and destination of the consignment, and the route accessed.
Furthermore, the Generation of E-Way bills is mandatory for all interstate and intrastate movement of goods having a value exceeding Rs.50,000/-. Thus, businesses mostly require generation E-Way bills to operate their businesses properly.
To know more about E-Way Bills, you can read our detailed guide here- E-way Bill Guide
Daily Average of E-way bill generation
The daily average E-way bills for the first five days of September are lower. These are marginally lower (1.4%) than the daily average of 21.26 lakh for the full month of August. It is Important to note that the daily average was 19.5 lakh in the first eight days of August.
Daily Generation of E-way bills rise in Early September
Experts estimate going by the recent weekly trends, the daily average will rise further for September when data for the full month gets collected. Between September 1 and 5, as many as 1.05 crores E-way bills were generated. The reason can be ease of lockdown restrictions.
GST Collections in 2021
In the month of August the overall GST collection, which rise by 30 percent year on year and decreased by 3.8 percent month, shows continuous economic improvement.
GST receipts have dipped under Rs 1 lakh crore in June 2021 after recording over Rs 1 lakh crore mark eight months in a row, due to the second Covid-19 wave.
Read more about GST Collection in August 2021 at – GST collection in August 2021 crosses ₹1 Lakh Crore
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